Aclaris Therapeutics (NASDAQ:ACRS) Upgraded by Jefferies Financial Group to “Buy” Rating

Jefferies Financial Group upgraded shares of Aclaris Therapeutics (NASDAQ:ACRS) from a hold rating to a buy rating in a report issued on Tuesday morning, MarketBeat.com reports. Jefferies Financial Group currently has $7.00 price target on the biotechnology company’s stock, up from their previous price target of $2.00.

Other research analysts have also recently issued reports about the company. Piper Sandler raised Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $3.00 to $13.00 in a report on Monday. StockNews.com raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. BTIG Research upgraded Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 price objective on the stock in a research note on Tuesday. Finally, HC Wainwright restated a “neutral” rating on shares of Aclaris Therapeutics in a research note on Tuesday, September 17th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Aclaris Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $8.80.

Aclaris Therapeutics Trading Up 46.2 %

Shares of Aclaris Therapeutics stock opened at $4.59 on Tuesday. Aclaris Therapeutics has a 1 year low of $0.77 and a 1 year high of $5.17. The company’s fifty day simple moving average is $1.53 and its 200-day simple moving average is $1.32. The company has a market cap of $327.86 million, a price-to-earnings ratio of -7.73 and a beta of 0.10.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). The company had revenue of $4.35 million for the quarter, compared to the consensus estimate of $8.31 million. Aclaris Therapeutics had a negative net margin of 136.65% and a negative return on equity of 40.26%. As a group, research analysts forecast that Aclaris Therapeutics will post -0.65 earnings per share for the current fiscal year.

Institutional Trading of Aclaris Therapeutics

Several large investors have recently bought and sold shares of ACRS. Geode Capital Management LLC raised its position in Aclaris Therapeutics by 9.3% in the third quarter. Geode Capital Management LLC now owns 846,446 shares of the biotechnology company’s stock valued at $974,000 after purchasing an additional 72,309 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Aclaris Therapeutics in the third quarter valued at approximately $1,053,000. Stonepine Capital Management LLC boosted its position in shares of Aclaris Therapeutics by 27.6% during the third quarter. Stonepine Capital Management LLC now owns 2,458,873 shares of the biotechnology company’s stock valued at $2,828,000 after buying an additional 531,427 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Aclaris Therapeutics by 187.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 332,406 shares of the biotechnology company’s stock worth $382,000 after acquiring an additional 216,826 shares during the period. Finally, BML Capital Management LLC lifted its holdings in Aclaris Therapeutics by 9.7% during the third quarter. BML Capital Management LLC now owns 14,250,000 shares of the biotechnology company’s stock worth $16,388,000 after acquiring an additional 1,261,866 shares during the period. 98.34% of the stock is owned by institutional investors and hedge funds.

About Aclaris Therapeutics

Aclaris Therapeutics, Inc a clinical-stage biopharmaceutical company, engages in the development of novel drug candidates for immune-inflammatory diseases in the United States. The company operates through two segments, Therapeutics and Contract Research. The Therapeutics segment is involved in identifying and developing therapies to address significant unmet needs for immuno-inflammatory diseases.